The US Is Finally Getting Its Crypto Rulebook. Here Is What the Senate Deal Means.
Senators Tillis and Alsobrooks announced an agreement in principle with the White House on the CLARITY Act. A committee vote is targeted for April — the first comprehensive federal framework for trading platforms, token custody, and related infrastructure.
Monday, 23 March 2026
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On March 21, 2026, Senators Thom Tillis and Angela Alsobrooks announced an "agreement in principle" with the White House on the CLARITY Act — the crypto market-structure bill that has been stalled in the Senate Banking Committee since January.
The deal aims to resolve the central dispute: whether regulated exchanges can offer yield on stablecoin balances. Banks argued that stablecoin yield programmes would trigger a mass exodus of deposits from FDIC-insured accounts. The preliminary agreement is expected to ban passive yield on stablecoins while potentially allowing activity-based rewards.
The target is a committee vote by April, paving the way for the first comprehensive federal framework governing trading platforms, token custody, and related infrastructure.
This matters beyond the US border. The CLARITY Act will define how US-registered entities interact with foreign VASPs, exchanges, and custodians. If you operate globally and serve US persons — or if US-regulated counterparties are in your transaction flow — your compliance architecture needs to account for this framework now, not after it passes.
The GENIUS Act stablecoin framework is already law. The CLARITY Act is coming. The window to build ahead of enforcement is closing.